From money overwhelm to money overflow

Transcript

I want you here for a moment to imagine that you are in a relationship with money. How would you describe? It right now. Are you feeling close, connected and loving? Or does it feel like your relationship is going through a bit of a tough patch, but it’s feeling toxic and volatile? Well, consider me your Money Relationship Counsellor, because today you were going to get your love back on track and we’re going to talk about how to get you from money overwhelm to money overflow?

If you were here listening to today’s episode of The Clare Wood Podcast, I am guessing it’s because you want an up level in your relationship with your finances and by up levelling our money I mean from going from freaking out, feeling overwhelmed, to actually making more profit and not stressing about money anymore and actually having overflow that is spare money to spend on the things that you want.

I just want to remind you about a few things…

3 Day Challenge Fix your Finances

My FREE 3 Day Challenge Fix your Finances is underway now! You can still go and join via the link in the show notes for today’s episode. The reason I’m running this free training is because I’ve actually opened the doors to my course, The Profit Academy foundations for a live round and I have a huge earlybird offer. Whether you go on and join the course or not, I give away a tonne of value, tell you how to take your money transformation to the next level. So it’s not too late to come and join the free challenge.

4 Steps to Grow your Profit

But I also want to tell you about another free training that I have coming up, which is called 4 Steps to Grow your Profit. Inside you will learn the secret tool to get a 3X return on your next business. You will also learn the number one thing that will grow your profit by 20% and at least three strategies guaranteed to make you more sales, and the tool that will increase your fun funds, ie funds to have more fun with, in just 15 minutes a week.

Alrighty, so let’s dive into the episode and get onto the topic that perhaps you’ve been avoiding… your finances. Let’s be real right here, right now, as you are listening, how would you describe your relationship? At this very point in time, now maybe some words come to mind, you might say it’s not in a very good place right now, maybe it’s in a fantastic place right now, but think about the words that spring to mind. Now, if your relationship isn’t in a great place right now, I want to let you know something… A good relationship, isn’t perfect. If you look at those influencers on Instagram who are always all loved up, I can assure you even the people with the greatest marriages, relationships, they have times which are far from perfect. Relationships have cracks, they have good times, they have bad times, they have hard times and they have easy times. But something that I know to be true is that relationships evolve, they change, and they can be healed.

So even if your money relationship is in a crappy place right now, don’t despair and think that is your destiny. A lot of times when it comes to money, we have generational money traumas, there are things that our parents or carers passed on to us, there are things that people around have passed on to us, and you can either be the person that continues with the generational trauma or you can identify the patterns and say, I’m going to be the one that breaks this generational cycle. I don’t want to pass this on to the next generation.

Stop ignoring your money

So how do you actually get started? If you’re in this crappy place right now, how do you get to a good place? Well, step one is to acknowledge the elephant in the room. This is one of the most common things I see when it comes to business owners and their relationship with money. Which is simply ignoring the finances all together.

Now, if you’ve ever been through a tough time in a relationship, maybe you’re guilty of this. I know that I have been, where you just decide to ignore the other party. You think I just can’t deal with this right now. I am going to give it the silent treatment. Now it might be for a few hours. A day a few days, or sometimes even longer. But something you will know if you’ve ever done the silent treatment or pretended and issue isn’t going on. Maybe you won’t. Giving the silent treatment. Maybe you’re just completely ignoring the issue. If you ignore a problem, it doesn’t magically go away on its own. The underlying issue will still stay and it won’t repair on its own. And yet. When it comes to your money, you might be ignoring it and magically hoping it gets better on its own.

So the question I want to pose to you today, how can you lovingly embrace your numbers? Now I do go a lot deeper in this inside my free trainings and of course to a much deeper extent I actually give the entire frameworks and processes and everything inside my paid course. But here is a bit of a taste of what that looks like.

The first thing to do is to set money meetings. So money meetings are a designated time where you sit down and look at your money. You actually really dedicate the time to say, hey, I’m going to put in the time and effort to make this work. And this is true for any area of your life that you want to create transformation or change. It’s gonna change your body, you can’t just keep doing the same thing you’ve done and hope that it changes on its own. You have to go to the gym. You have to carve out the time to cook healthy meals and go and train. This is how we get better finances, we carve out the time. If this is something that truly is important to you, you need to dedicate the time to do it. And I know there’s often a bit of a resistance to this. If you’ve been in a toxic relationship with your money and you’re now forced to sit down and spend some time with it might be all quite uncomfortable. So I talk about this a lot inside my course, The Profit Academy Foundations and we look at ways to make your money meetings fun. I’ve got a couple of tools that I love to teach. One is using a visual tracker, everyone always has a bit of a giggle when I explain the back story behind that. I also try and inject a bit of humour into my money meetings. I have them with my bookkeeper and my husband have a couple of different kinds of money meetings and I try and have a bit of a giggle, particularly if things deed a bit of tweaking, I find a bit of humour makes it more fun. And I share a tonne of other ways that you can inject more fun and humour into the process as well. If you want to really start to change how money is for you, you have to invest the time to start to change that relationship. You gotta carve out the time.

A note, I want to say anyone who’s ever been through relationship counselling. The process is sometimes uncomfortable, maybe even painful and frustrating. But the truth is, you can either stay where you are stuck, or you can be willing to get uncomfortable because on the other side of discomfort is growth and transformation. And in the space of money, it means more freedom, but it does require carving out that time and taking that step to really start to change.

Educate yourself and invest in your money education

The next step, is education. Now when I’m wanting to work on something in any area of my life, I research the crap out of it. If it’s an issue with my kids, with myself, my health, my marriage, I immerse myself into learning more about it. And sometimes it’s absorbing free content on a podcast or social media. But truthfully, if I’m really committed to creating different outcomes, the best way to do so is to energetically commit to a process through paying.

So for example, you know investing in a programme to learn about healthy eating, investing to join the gym, investing in a course to learn about parenting. It might also look like hiring help. And again, if you’re a bit stuck when it comes to your money, paying someone, hiring someone to help support you on that transformation might be the right step.

For me, I love to do courses, I love to invest, to work with consultants or coaches to help me create different outcomes.

A side note on this topic – please be careful who you learn from. I often see people taking advice from people on TikTok or someone who quite frankly, are not qualified to be giving out that information. I would not be taking advice around relationships or mental health or anything like that from someone who is not a professional qualified psychologist. And equally, I wouldn’t take medical advice off someone who’s not a doctor or has some sort of medical qualifications. And I’m seeing in today’s day and age of TikTok, anyone can pick up their phone, start talking about it. A lot of people unqualified to talk about business finances, are sharing their advice, and not always, but sometimes, I really cringe because they aren’t saying things that are accurate. And I just really think you do need to be mindful where you are getting your advice from.

I myself, this is why I created my course, I’m a qualified accountant and I’ve practised in this industry for a long time, so I really do feel qualified to talk about the topics that I am talking about.

Have a clear strategy on how to grow your business profit

The next step in your relationship transformation is investing in education, if you’re wanting to get from overwhelmed to overflow, is you need to have a clear strategy or clear strategies to add profit to your business.

Inside my course, The Profit Academy Foundations, I have a whole module about this exact topic and inside the masterclass that I mentioned earlier, 4 steps to more profit, I’m actually going to share 3 of these strategy. But in a nutshell, there are a lot of entrepreneurs who are not confident about how to grow their profit.

It’s very important that when you set about your mission to make more money and I don’t mean sales, because sales aren’t profit, profit is the money that you get to keep. So when you set about, hey, I wanna have money, I wanna have more money and I’ve flow… Firstly you need to focus on profit, not just sales. And you need to have a clear strategy or strategies around how you are actually going to do that in a way that is aligned for you and your business. So having a really really clear framework, this is exactly how I’m going to grow my business profitability.

Your relationship with your business finances, it’s a journey and not a destination. So there will be bumps along the way. And I just want to remind you that a bump isn’t a stop sign. Just because things might feel a little bit hard for you right now, it doesn’t mean that you are bad at money. It just means that you’ve got a little bit more work to.

Not having to stress about money anymore is on the other side of a bit of discomfort in the process. I truly believe no matter what your current state is with money, that you can transform your relationship with your business bank account into a long lasting and prosperous partnership.

So to sum up today’s episode:

1. Stop ignoring your money. Don’t pretend it’s not going on. It’s not gonna get better unless you take steps to make it better.
2. Educate yourself, and in particular look to invest in your education in this space of money. If money is important to you, invest the time to learn more about it
3. Have a clear strategy on how to grow your business. Don’t just wing it. Don’t see the latest trend on TikTok and think ohh I need to be doing that thing. Really step back and think about your audience. Think about your own personal goals and then create a tailored strategy around how to create the outcomes that you desire.

If you’ve enjoyed today’s episode and you want to take these learnings deeper, come check out my masterclass 4 steps to more profit. It’s free. Or if you’re like, I am ready to just go all in, go and check out my course The Profit Academy Foundations, cause I’ve got a huge early bird discount offer available on it right now. You can click on the link in the show notes for today’s episode to find out more.

Until next time, keep calm and make more money.